Post by
basbot on Aug 05, 2020 2:46pm
Have Brian and Clyde Wesson added shareholder value?
See Brian Wesson's comment below.
As a shareholder of Otso, the only thing the Wesson's have done is destroy the share price in a gold market that is on fire, enriched themselves by taking $97,000/month between father and son, papered themselves with 26,000,000 shares and over 6,000,000 warrants and delayed filing their financial statements (April 30,2020), so they can keep kicking the can down the road.
The Wesson's are now disputing a Services Agreement for the previous management which was approved and tabled at their shareholders meeting.
Furthermore, the Wesson's have continually slagged previous management in all their press lreleases and what have they acheived, other than to enrich themselves at shareholders expense.
Brian Wesson, who founded the Wesson group of companies that includes Lionsbridge and Westech, said: "We look forward to working with the company to unlock shareholder value by returning the company to sustainable production. [The] new directors will update shareholders on the path forward immediately after the completion of the transition period."
Comment by
rborhi on Aug 05, 2020 2:54pm
So far I agree they haven't added value. They would have to be major screw ups if they can't make this mine work in this gold environment.
Comment by
GoldenEra on Oct 13, 2020 5:05pm
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Comment by
Oenophile on Oct 16, 2020 10:19am
Old guard blew it, however this group may only create value for themselves.
Comment by
Dummoney on Oct 16, 2020 2:17pm
luckily the bar is low.. and otso comes with lots of value
Comment by
Oenophile on Oct 16, 2020 5:30pm
Question is whether that value can be realized. After looking at their past projects I'm not so sure.
Comment by
Oenophile on Oct 19, 2020 1:34pm
Hopefully they can obtain favourable debt and/or offtake. Project itself is fine, too bad their ore isn't amenable to sorting, would have significantly improved head grade.
Comment by
Dummoney on Oct 19, 2020 1:47pm
I'm hoping debt..production would extinguish debt in no time..offyakes are forever. If we hear rumours of Sandstorm or Metalla snooping around .. then they went for the easy off take deal
Comment by
Oenophile on Oct 21, 2020 6:26pm
Hopefully. The equity financing with Alumina is awful, hopefully they don't draw down too much more going forward.
Comment by
GoldenEra on Oct 22, 2020 12:12pm
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Comment by
Oenophile on Oct 22, 2020 3:16pm
His compensation is exorbitant, but is unrelated to the facility being awful. Old management was incompetent, they aren't coming back. When have you ever seen that happen? LOL. You're a goof.
Comment by
calvin98 on Oct 22, 2020 5:10pm
I don't see why shareholders are upset at Brian's compensation, it's the partners money
Comment by
GoldenEra on Oct 23, 2020 11:15am
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Comment by
Oenophile on Oct 23, 2020 11:51am
Ah..I get it, you're an old bag holder.